Dear ,
As requested, let’s look at GBPUSD and the recent events that happened in the previous trading session.
GBPUSD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.17% | -21.9 Pips |  |
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| Week to-date | -0.17% | -23 Pips |  |
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| August | 2.63% | 338.6 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
U.S. Durable Goods Orders excluding Transportation in July dropped to -0.2% from the revised June figure of 0.4%, which was initially reported as 0.5%. Source: Census Bureau
U.S. Durable Goods Orders excluding Defense in July increased to 10.4%, compared to the revised figure of -7.2% (previously -7%) in June. Source: Census Bureau
U.S. Nondefense Capital Goods Orders excluding Aircraft in July dropped to -0.1% from a revised 0.9% in June. Source: Census Bureau
U.S. Durable Goods – New Orders in July rose to 9.9%, compared to the previous figure of -6.7%, revised from -6.6% in June. Source: Census Bureau
What can we expect from GBPUSD today?
GBPUSD on Monday dropped -0.17% to 1.31916. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at S1 1.31733 with break below could see further selling pressure towards S2 at 1.31551. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.32220 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.31794 would indicate selling pressure.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.32585 |
| R2 | 1.32403 |
| R1 | 1.32159 |
| Daily Pivot | 1.31977 |
| S1 | 1.31733 |
| S2 | 1.31551 |
| S3 | 1.31307 |
